OREANDA-NEWS. National Rating Agency has assigned its national scale 'A' credit rating to Kondaneft Oil Company OJSC.

The rating reflects Kondaneft's high quality and value assets in the form of oil and gas fields, long-term investment programme, which the company is able to finance, and its shareholder with a capacity and capability to provide organizational and financial support.

Negative factors that may affect the company's performance include the unfavourable commodity market conditions (dropping global oil prices) and the long tenure of the investment project, which the company is initiating at a time of economic and financial uncertainty.